Networking to get a Job | Why People get Networking Wrong
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- Äas pĆidĂĄn 13. 11. 2020
- Many graduates engage in networking to get a job. But many people get networking wrong. Candidates looking to join high-profile careers such as consulting or investment banking believe that networking can get them invited to an interview. In this video I talk about why people get networking wrong. I discuss how to network to get a job and how to network to get an interview. Unfortunately there is one thing that everyone gets wrong about networking. Let's find out what business networking is really all about, especially if you are looking to join an MBB consulting firm such as McKinsey, BCG or Bain. This video will teach you how to network with people in business and keep the right mindset. Networking for introverts can be especially difficult, let me share some professional networking tips to teach you how to network with people. These networking tips for success are key job search strategies for 2020.
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Great general guide and an honest fresh view.
But what about a âWild Cardâ? I have heard that some MBB consultants in German offices would have a limited number of wild cards at their disposal.
With such a wild card they could refer a candidate, override the first level screening process and put a candidate straight into the interview round.
I was offered a couple of them from top percentile Consultants between 2015 and 2017 but actually never accepted the offer.
Obviously, it would be a hot commodity that you would probably not just hand over to a random guy that youâve met on a networking event, but still a tangible improbable yet possible reward for the very best networkers and relationship builders.
Does it actually exists? Did it use to exist at any time? Have you ever pulled it or given to anybody yourself?
@@lukeklima7075 Hi Luke, yes this exists! Details of course are different by firm (e.g., 1 wildcard per consultant per year). As this is usually pretty limited, you should not expect that a consultant does this for you that you just met at a career fair. But if you know someone in your dream firm very well it might be worthwile to talk to him! Best, H
This is an excellent first step to the Networking Process. I welcome seeing more talks in the networking area to include how to set-up and conduct an exploratory interview which could be a great on-ramp to securing a competitive interview.
Hi Raymond, thank you for your comment! Great ideas for future videos as well - thanks! :) Best, Heinrich
Great video and a perspective shifter!
In a world of social media and the consequent imposter syndrome (because everyone seems to be on fire), it's really healthy to get to meet the "real" versions to realise they are NOT larger than life.
I feel like this is also similar to the problem with LinkedIn; people - whom you've never met - adding you and then immediately sending a sales pitch. Sometimes for themselves and sometimes for products. When the value (to me at least) is more about understanding topics, markets, connections etc. and the people who help me understand, by creating relevant content, are the real valuable connections. Much like yourself.
Hi Benedikt, thank you for your warm words, appreciate it!! Yes, agree that all these LinkedIn interactions are rarely helpful. Lots of success to you man! Best, Heinrich
Great video, thank you so much! I always wondered about how much of an impact these personal encounters with consultants actually have. The second part of the video also helped tremendously to take away my fear of having to be a superhuman to even compete for a MBB-Job.
Hi Philipp, thank you for your comment. Happy to hear the video was helpful! All the best, Heinrich
Heinrich, you replied all the comments!
You give us a good and unique point in networking activity, well done!
Hi Anggar, super happy to hear that thank you. Yes doing my best with the comments, will do that as long as I can handle it!! :) Best, Heinrich
Wow... Today I learned consultants are people too ;) Great video Heinrich!
Hi Ben, fully agree - that is how it is ;) Thanks for your comment!! Best, Heinrich
This was a really enlightening video! Especially the part about getting into the mindset that I, too, am "qualified" to be a consultant. Thank you!
Hi Rou, thanks for your comment! Yes fully agree, it has a lot to do with the mindset. Best! Heinrich
Thanks for this as well. I was very guilty of thinking I wasn't "good enough" to get into a large firm. I know better today, but when I went to B-school, I was convinced that I'd would never make it to an MBB firm because I didn't have the pedigree. This is encouraging.
Thank you for the encouraging and insightful words, Heinrich.
Very nice video mate, I love the honesty and confidence-boosting spirit!
Thanks Riccardo, great to hear that. All the best to you!! Heinrich
Commenting because your work is so valuable!
Super happy to hear that - thank you so much Manal! Best, Heinrich
Thank you for the amazing insights. In my personal perception networking means getting in touch with interesting personalities and broaden your range of informations. But it doesn't give you directly access to the prestigious jobs.
Woahh!! This one made me reflect and ask the main question to myself, "Do you REALLY have what it takes?"
Superb video Heinrich!!
Thanks for your kind comment Aryan! Super happy to hear the video was helpful. Best, Heinrich
Great Video tbh, really helps with the confidence thing
Hey Heinrich, thanks a ton for this video. I found it exceptional! I see other people have mentioned it as well, but I was wondering if you could do a video on conducting networking calls and e-coffee chats. It'd be amazing if you could also cover how to make the most of the 20 odd minutes most calls/conferences last in terms of getting the desired information.
Cheers
Hi Siddarth, thanks for the comment and the feedback - appreciate it! Indeed an interesting topic.. might pick it up for future videos, thanks for suggesting! Best, Heinrich
Thanks for sharing your thoughts, Heinrich!
Thank YOU for watching Victor!! Best, Heinrich
Keep doing this kind of video please! They are very insightful
Thanks for watching! :) Will do! Best, Heinrich
All very useful, and as always with that beautiful smile. Only one thing... it would be better to take a breath or two Heinrich. This is supposed to be our coffee break, not a sprint. đđ
Hi Vasileios, thanks for your comment! Indeed try to cut out most of the breaths to make it a little bit more crisp and dense :) Best! Heinrich
Thanks for the great advice!
Sure thing, thanks for watching! Best, Heinrich
Thank you so much for your transparent viewpoint
Appreciate the comment, happy to hear you liked the video! Best, Heinrich
so excited about this topic đđč
Thank you Aya - looking forward to it as well! :) Best, Heinrich
Fantastic video! Thank you!
Hi Pietro, thanks for your comment! Super happy to hear that. All the best to you! Heinrich
Thank you for another great vid Heinrich!
Happy to hear it was helpful - thanks Jose!
Thank you, that was very useful!
Super happy to hear that, thanks for watching Romil! Best, Heinrich
Thanks man, really helped with my self esteem
Happy to hear it helped! Thanks Richie :) Best, Heinrich
i just cannot leave w/o realising once again - we all cook with water ! advice taken. thx!
You are absolutely right ;) Thanks for watching! Best, Heinrich
Wow, this has opened my mind đĄ
Great to hear that - thank you for watching Nindy! Best, Heinrich
One question âđ
We are taught that the first rule of networking is to offer value before you ask for a favor / help.
What can a candidate offer of value to a senior consultant or firm partner during the networking process?
Sure. Believe that this idea of helping the senior consultants / partners out with something is rather an idea that applies when you already are further down in your career. As a young graduate, it will be rather difficult for you to offer value in a meaningful way to a partner. If you have a way to do that - that is of course amazing! Though still you should not expect to be invited to the interview only due to a favor that you gave to someone. Best! Heinrich
@AM @@FirmLearning I think this happens naturally. Like Heinrich said in the video, senior consultants and firm partners are people too! I think it will just flow naturally based on the situation, common interest, complementary expertise, etc. If they're presenting & can't seem to connect to the projector, you can lend a hand. If they're graduates who come back to campus after 20 years and they have some time, you can offer to give them a quick campus tour, and so on.
Very helpful man
A very very very nice video!
Thank you Kamal! Much appreciated!! Best, Heinrich
Danke you for this video!
Thanks for watching. Great to hear the video is helpful :) Best, Heinrich
Your german accent is so refreshing!!! Wow!
Normally a video on networking or sales has a fast talking American đ
Thanks man. Indeed hard for me to hide my German origins ;)
Hey Heinrich, thanks for this video. I will become a freshman at a university located in Boston this summer. I am wondering is there anything I can do like a part-time job that is helpful for my future consulting career? Also, as a student with indeterminate majors, is it necessary to decide to major in business in freshman year, or should I study more general courses? Thank you!
That makes 100% sense. How would you approach responding to an environment which you do not have much information about the role or the environment (Agile Consulting in the Finance sector) but the interviewer is asking detailed questions and expecting a suitably detailed answer?
My suggestion would be going into networking conversations thoroughly prepared so that you are able to make a good impression!
Something that is good about networking with someone from a company you would like to work at, is that it can help with the interview as well for questions like 'why do you want to work here.' You can embellish your conversation during the interview to create a good story.
You're growing on me Heinrich.
:) Thanks very happy to hear that! Hope the videos are helpful. Best! Heinrich
Great video. Looking forward to not doing any more networking for a while.
Thank you Adi! Yes agree, the current situation indeed does not help regarding networking..!
It would be great if you can go more into detail on how to network correctly. If now it is clear that meeting someone at a career fair will not help one secure a job interview, then how should one follow up with the person? When should one contact this person? How can one make the best out of the career recruiting events?
Hi, thank you for your comment! Many good points, indeed there is lots of material on the networking topic for future videos :) Best! Heinrich
Can you make a video about getting into consulting with a non business bachelors? Thanks again for the great contentđ
Hi Mashhood, thank you for the video suggestion. Yes, might do something about it in the future! Especially the large MBB firms have recruiting quotas for "exots" (i.e. graduates without business or STEM background), so this is for sure possible. Best! Heinrich
@@FirmLearning Thank a lot Heinrich! It was really helpful as I had no idea that such a quota existed. So is there a special quota for STEM students, or are they in the same pool as the business undergrads?
I have come across to your channel just because the subtitles you put in videos
Great to hear the subtitles are worth the investment, indeed I use a service that creates them for each video :) Best! Heinrich
Hi Heinrich!
1)Does this also apply to the automotive companies like Bmw, Audi?
2) Also, do you think these companies scan the CV using computers?
3) How long in advance should one apply for a job. Let's say I want to begin in December, is it best to apply 1 month or 3-4 months in advance?
Hi Anshul, regarding your questions:
1) In industry it is a bit different because there is often a separation between the HR team and the operational departments trying to hire the people. In these settings, it can often make a lot of sense to try to bypass HR and directly get in contact with the functional departments to try to convince them to hire you. In this sense, networking can be valuable. Though probably you need to pursue other avenues than random career fairs (where you usually will only meet the HR people).
2) The very large corporate firms might do that. Though most will usually only use it for a preselection / still have at least a quick manual glance at each CV. (Of course there will also be companies though who directly reject apps just based on algos).
3) In consulting, you should usually indeed apply at least 3 months before you would like to start. For these things you can also reach out to the HR team at your preferred company, they are the professionals whose job it is to exactly answer these questions, do not be afraid to just call them up.
Best! Heinrich
Great advice. Thanks!How about networking on LinkedIN? Is that really effective in Germany?
Hi Prajakta! If you mean to just hit people up cold on LinkedIn, no I do not think that this is a great strategy to build meaningful business relationships. However, after you are already in contact with someone, LinkedIn is indeed a great platform to then later touch base / reconnect with people. Best! Heinrich
You are a good guy đ
Thanks for your kind comment Rakesh, much appreciated! Best, Heinrich
Thank You very much for the video.Agree with all the points, especially,about the confidence part.I had two questions:
1.I had heard something like "hire a friend" in MBB.If the consultant does a referral for you and if you get the job,he/she will get some bonuses.Is this true?
2.And for example,if I get the job,can I request 1 year gap for doing masters degree (like You in LSE,for example),or for some another reasons?
Thank You very much.
Hi Ismayil! Thank you for your comment.
Re 1: Yes, these programs exist though the details differ by firm. Some firms have a "wildcard" where a consultant can get a friend a guaranteed interview once per year. Others indeed pay a bonus for a successful hire. If you have a very good friend working at an MBB firm, it might be worth wile talking to them.
Re 2: Yes, many MBB firms offer a "leave program" to finance an MBA / PhD or similar degree. The exact programs do not only differ by firm (McK seems to have the most attractive one in general) but the programs are also significantly different by office / country, so you would need to check your local situation.
Best! Heinrich
@@FirmLearning Thank You very much
In true consultant fashion after 11 minutes I still don't know how to network. All I head was what not to do. Just like the meme's say consultants tell you nothing.
Sorry to hear you did not enjoy the video - Still thanks for watching!
I find networking hard.....particularly finding people to network with.
Indeed, also do not find it super easy.. believe most people don't :) All the best to you! Heinrich
@@FirmLearning networking administration jobs r easy ? It's like managing computer like software
Many people are stuck in their jobs. I have to say that all channels in youtube do not give any applicable interview. It is absolut twiching the Chance from 1% to something between 3% to 7%.
Unlike...these channels advertise you still have to write hundred of applications. It is Quote annoying to frame this as anything else but luck.
Hi, thanks for sharing! Yes, luck for sure also plays a role. Lots of success to you! Best, Heinrich
And also...by talking to consultants/he managers you start to get acknowledged with the jargon, the mindset of the consultant. If then your brain is plastic enough you can tune yourself correctly in the interview and have better chance of success.
Yes this is a good point as well! "Speaking the language" and showing that you are already part of it can for sure be a subtle way to help you in the process. Best, Heinrich
Hi Heinrich, thanks for the highly informative video. Having attended a couple of career fairs during my masters, I found this quite relevant.
I'm looking for an opportunity at DHL Consulting as this is probably the only consulting firm in Germany that considers non-German speakers.
Just for the Algo! :P
Anyways - how much do my undergrad grades matter? Does 6.6/10 means that I'll never get into MBB? Can I at least get into HBS/GSB/Wharton/Sloan? Except for this one single thing every other performance grade I have is great. Also have professional experience at MasterCard Advisors and a degree from tier 1 Engineering college in India. What are my chances Heinrich?
Hi John, if the rest of your profile is exceptional, you might get in also with a not so perfect GPA! For the MBA later, the GMAT is very important as well, a great GMAT can compensate the GPA. Lots of success to you!! Heinrich
@@FirmLearning Thanks a lot Heinrich! I appreciate a lot! Gives me a lot of hope and motivation towards GMAT prep. :)
So acutally your youtube channel might contribute to an even more competetive environment as more people will be convinced they are well suited for these jobs.
Hi Johnny, of course do not hope that the channel makes anything more competitive. But yes, I do think that confidence is an important factor in the process. Best! Heinrich
Next time specify this is related to networking events, because I wasted 10 min watching your video hoping it will be about reaching out to people online
Let me be the dwvil's advicate here for the dake of it.
All career advice on social media is in most cases usesless.
Advice to shower, comb your hair.....be on time...well I still find it, and it is applicable...just hard to find someone who needs that.
I realized that people gravitate to people who seem to have wealth, influence......or who fake that.....I kind of have a soft spot for some people who pull that off and scam off snobby douches.....I was surprised how easy some people in higher salaries can be.
But when it comes to genuine people who are stuxÀck in some career who do repetitive shit.....advice does not fly.
Networking on LinkedIn with people whom you know casually leads nowhere.
I used to be on LinkedIn for years. As soon as I have not checked a single mark on some head hunter's list. I was bye bye....Sone still asked me to advertise among my collegues.....to incur the wrath of my company that I act as an agent to pull out staff.
I think this netwotking efforts benefit only few people.
Hi, interesting perspective. Thank you for sharing, appreciate it! Best, Heinrich
This is a comment just to help you with YT the algorithm :)
Hi, thank you much appreciated!! Best, Heinrich
Comment for the algorithm đ©
Thank you Steven, much appreciated!! :)
Arnold? The Terminator?
:) Thank you for watching!
If AhNold worked in HR lol
:) Thanks for watching!
Is this guy living at his grandparents?
;) No. Thanks for watching!
, Gregor Samsa asked.
Comment for the algorithm đ©
Thank you Jeremy!! Much appreciated :)